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About China Trade

The socialist market economy of the People’s Republic of China[21] is the world’s second largest economy by nominal GDP[22][23] and the world’s largest economy by purchasing power parity according to the International Monetary Fund (IMF),[24] although China’s National Bureau of Statistics denies the latter assessment.[25] Until 2015, China was the world’s fastest-growing major economy, with growth rates averaging 10% over 30 years.[26][27] Due to historical and political facts of China’s developing economy, China’s public sector accounts for a bigger share of the national economy than the burgeoning private sector.[28][29] According to the IMF, on a per capita income basis China ranked 71st by GDP (nominal) and 78th by GDP (PPP) per capita in 2016. The country has an estimated $23 trillion worth of natural resources, 90% of which are coal and rare earth metals.[30] China also has the world’s largest total banking sector assets of $39.9 trillion (252 trillion CNY) with $26.54 trillion in total deposits.[31][32]

China is the world’s largest manufacturing economy and exporter of goods.[33] It is also the world’s fastest-growing consumer market and second-largest importer of goods.[34] China is a net importer of services products.[35] It is the largest trading nation in the world and plays a prominent role in international trade[36][37] and has increasingly engaged in trade organizations and treaties in recent years. China became a member of the World Trade Organization in 2001.[38] It also has free trade agreements with several nations, including ASEANAustraliaNew ZealandPakistanSouth Korea and Switzerland.[39] The provinces in the coastal regions of China[40] tend to be more industrialized while regions in the hinterland are less developed. As China’s economic importance has grown, so has attention to the structure and health of the economy.[41][42]

Source:

  1. Wikipedia “Economy of China”
  2. “The Changing of the Guard: China’s New Leadership”. INSEAD Knowledge.
  3. “How is China shaping the global economic order?”. CSIS China Power.
  4. “GDP ranking”. World Bank.
  5. “Report for Selected Country Groups and Subjects (PPP valuation of country GDP)”. IMF. Retrieved 24 October 2017.
  6. “China denies being world’s No.1 economy”.
  7. Nelson D. Schwartz; Rachel Abrams (24 August 2015). “Advisers Work to Calm Fearful Investors”The New York Times. Retrieved 25 August 2015Even the most pessimistic observers think China will still grow by 4 or 5 percent
  8. “Report for Selected Countries and Subjects”. International Monetary Fund. 16 April 2013. Retrieved 16 April 2013.
  9. uscc.org.
  10.  mansfieldfdn.org.
  11. Anthony, Craig (12 September 2016). “10 Countries With The Most Natural Resources”Investopedia.
  12. “China banking sector’s total assets reach 252 trln yuan – Xinhua | English.news.cn”www.xinhuanet.com. Retrieved 2018-04-07.
  13. “China Total Deposits | Economic Indicators”www.ceicdata.com. Retrieved 2018-04-07.
  14. “China Widens Lead as World’s Largest Manufacturer”. thomasnet.com.
  15. “China: Fastest Growing Consumer Market in the World”. IMF direct – The IMF Blog.
  16. intracen.org.
  17. “China’s Economy Is Catching Up to the U.S.”
  18. “Trade recovery expected in 2017 and 2018, amid policy uncertainty”. Geneva, Switzerland: World Trade Organization. 12 April 2017. Retrieved 2017-06-22.
  19. “China – Member information”. WTO.
  20. “China, Switzerland sign free trade agreement”. eubusiness.com.
  21. As ZhejiangJiangsuFujian and mainly Guangdong
  22. 2011 presentations on the state of the Chinese economy. USC US-China Institute. Retrieved 28 February 2012 – via Youtube.
  23. “2011 USC US-China Institute conference on the State of the Chinese Economy, complete schedule and presentations”. USC US-China Institute. Retrieved 28 February 2012.